Kelley Blue Book estimates U.S. auto sales increased 9% in September to 1.24M units.
The sales forecast for the year is raised to 16.4M units from 16.3M.
The compact SUV/crossover segment showed the strongest growth during the month with sales rising at a 19.1% clip, according to KBB.
KBB sales forecast by manufacturer: General Motors (NYSE:GM) +15.9% to 217K; Toyota (NYSE:TM) +7.0% to 176K; Ford (NYSE:F) -2.4% to 180K; Chrysler (OTCPK:FIATY) +17.5% to 168K; Honda (NYSE:HMC) +11.8% to 118K; Nissan (OTCPK:NSANY) +17.4% to 102K; Hyundai (OTC:HYMLF) +10.6% to 103K; Volkswagen (OTCQX:VLKAY) +3.9% to 50K.
Governor Jerry Brown of California has been busy signing bills to help support the electric vehicle industry in the state.
Brown signed bills to help low-income drivers afford EVs and extend charging networks into new neighborhoods.
A long-term goal is in place by the state to have 1.5M zero-emission vehicles on the roads by 2025.
Models which could see a boost from California's latest round of EV-friendly legislation includes the BMW i3, Chevrolet Volt, Tesla Model S, Toyota Prius plug-in, Honda Accord plug-in, Nissan Leaf, Ford Fusion Energi, Ford C-Max Energi, BMW i3, and the Cadillac ELR.
Kelley Blue Book forecasts U.S. auto sales will fall 1% in August to 1.49M units.
The decline is attributable to a difference in selling days during the period compared to last August.
All segments are expected to see lower sales totals except for compact SUV/crossover which is tapped for a 6.2% gain.
KBB sales forecast by manufacturer: General Motors (NYSE:GM) -1.0% to 273K; Toyota (NYSE:TM) -4.6% to 221K; Ford (NYSE:F) -1.5% to 217K; Chrysler (OTCPK:FIATY) +11.1% to 184K; Honda (NYSE:HMC) -8.1% to 153K; Nissan (OTCPK:NSANY) +1.2% to 122K; Hyundai (OTC:HYMLF) -1% to 117K; Volkswagen (OTCQX:VLKAY) -11.6% to 51K.
Russia may impose restrictions or a ban on vehicle imports from Western countries, if the U.S. and EU impose additional sanctions on Moscow, Reuters reports quoting the Vedomosti.
The paper says that the proposals have already been sent to Putin for consideration but no decision has been made yet.
The new ban, however, would not apply to foreign automakers' production inside Russia. Ford (NYSE:F), Volkswagen (OTCQX:VLKAY), Renault (OTC:RNSDF), Toyota (NYSE:TM) and Hyundai (OTC:HYMLF) all have production facilities inside the country.